Rockhopper Exploration plc
05 April 2006
PRESS RELEASE
For immediate release: 5 April, 2006
Rockhopper Exploration plc
3D survey - Letter of Intent Signed
Rockhopper Exploration plc (Rockhopper) is pleased to announce the signing of a
Letter Of Intent with CGG Marine to conduct a 3D seismic survey on its North
Falkland Basin acreage. The survey is planned for the Falkland summer months and
is currently scheduled to begin in December 2006. The survey, which consists of
a minimum of 685km2 over licences PL032 and PL033 is aimed at providing further
data over a number of promising leads and prospects, and in addition, better
definition of the zones from where oil was recovered and gas detected in the 2
wells drilled in 1998.
Licences PL032 and PL033 lie in less than 500m of water and were the subject of
2 wells drilled during 1998, one of which recovered live oil to the surface. The
licences are already covered by 1546 km 2D and 368 km2 3D seismic data and
Rockhopper has access to that data. Rockhopper is now targeting a different play
type in addition to those early wells, representing an untested oil play.
Sam Moody, Managing Director, commented: 'We are very pleased to have one of the
worlds leading seismic contractors coming to work in the Islands at a time of
tight supply for high quality services in the oil sector. In 2006, we have
already completed 2D seismic and CSEM surveys over licences PL023 and PL024, and
the completion of this 3D seismic survey will be a further step in progressing
our exploration effort. By acquiring, processing and interpreting this data the
Company is taking all available steps to ensure that we have the maximum
flexibility in planning a future exploration drilling programme.'
For further information, please contact:
Rockhopper Exploration plc www.rockhopperexploration.co.uk
Sam Moody - Managing Director 01722 414 419
Aquila Financial Ltd www.aquila-financial.com
Peter Reilly 020 7202 2601
Yvonne Fraser 020 7202 2609
Notes to editors:
A graphic showing the location of licences PL032 and PL033, the proposed
location of the 3D seismic survey and the existing prospects and leads is
available from Aquila Financial Limited or can be downloaded from the Rockhopper
website:
www.rockhopperexploration.co.uk
Rockhopper Exploration plc started trading in February 2004 to invest in and
carry out an offshore oil exploration programme to the north of the Falkland
Islands. The Group, floated on AIM in August 2005, is currently the largest
licence holder in the North Falkland Basin and has a 100 per cent. interest in
four offshore production licences which cover approximately 5,800 sq. km. These
licences have been granted by the Falkland Islands government.
This information is provided by RNS
The company news service from the London Stock Exchange